Engineers Gate Manager LP Buys Shares of 947,314 McCormick & Company, Incorporated $MKC

Engineers Gate Manager LP bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 947,314 shares of the company’s stock, valued at approximately $64,522,000. McCormick & Company, Incorporated accounts for about 0.8% of Engineers Gate Manager LP’s investment portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $28,000. Deseret Mutual Benefit Administrators raised its holdings in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $28,000. Zions Bancorporation National Association UT raised its holdings in shares of McCormick & Company, Incorporated by 340.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares during the period. Finally, Glen Eagle Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after purchasing an additional 170 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of a number of research reports. Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $61.90.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. The trade was a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $46.41 on Thursday. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The company has a 50-day simple moving average of $49.09 and a 200 day simple moving average of $58.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The company has a market capitalization of $12.47 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.